Technology Innovator Awards 2021 37 Supply Chain Systems Innovator of the Year - UK With the recent reports from the PwC’s Annual Manufacturing Report that “86% of companies say they are ready to invest in new digital technologies to boost their competitive position”, Optimized Supply Chain Solution is the company stepping up to help them do so. It has cut its teeth helping medium to enterprise size companies reduce their working capital and is looking forward to continuing to support clients to increase their competitiveness long into the future. Optimized Supply Chain Solutions’ mission is to provide in depth analysis to manufacturing companies, offering them the insights needed to identify opportunities to reduce working capital. Fundamentally, clients benefit from the services this business offers with a significant 10-25% reduction in working capital, 5-10% improvement in product availability, and making product obsolescence less common – all of which allows them to retain the interest of their client base. The company has a passion in driving client’s competitiveness in an increasingly dynamic – and growing – marketplace. In this way, its work in optimizing working capital investment makes their clients more resilient to deal with global challenges such as the Covid-19 outbreak or the Suez Canal blockage. Such supply chain challenges highlight in stark detail the weaknesses that can lie in supply chains, as well as bringing to attention the importance of cashflow performance. Since its founding in 2018, brought forth by its identification of a gap in the market for a dedicated inventory optimization and analysis solution, it developed its ‘Optimized’ software solution to plug this gap. In 2021, it opened its first office in Poland – this allowed it to work with Western European Manufacturing companies that have relocated, although their software development and hosting remains in Manchester. With a choice between cloud based and on premises solutions, it is continually investing in product development to better serve its client’s interests. V5.0 is currently in development which comes with additional modelling features and an improved user experience. The new product version is due to be available for existing and future clients from August 2021. Where some large ERP vendors and advanced Supply chain planning vendors offer inventory analytics functionality, they are packaged along with a much larger product offering. These solutions are either cost prohibitive to many companies or would require the replacement of their current core systems. Instead, the ‘Optimized’ solution works alongside a manufacturing company’s Enterprise Resource Planning (ERP) and Supply chain Management (SCM) systems. The cloud-based SaaS solution requires no system integration, can be deployed remotely, and offers inventory analytics functionality without the need for the wholesale replacement of existing business systems. The solution has been developed by an exemplary team of experienced supply chain consultants with decades of experience in making clients more competitive. The team were so confident in delivering targeted inventory savings that the original fee model was ‘results based’, however, they had to change this approach early on as clients found it too unconventional. The business model now follows the current trend of a subscription service. With ‘what if’ inventory modelling, inventory cost analysis, XYZ segmentation, and triple play analysis, Optimized Supply Chain Solutions is the company shaping the future of inventory efficiency. Company: Optimized Supply Chain Solutions Contact: Stewart Williams Website: optimized.org.uk Apr21085
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